https://www.taxtmi.com/caselaws?id=768110 ITAT NEW DELHI ruled in favor of the assessee, deleting additions made under sections 69B and 69C. The tribunal found that printouts allegedly showing cash payments for machinery purchase were insufficient evidence without corroborative material, particularly since the supplier denied receiving cash and machinery valuation supported the assessee's position. Similarly, additions for alleged cash payments to suppliers were deleted as AO failed to conduct proper enquiry, record statements, or provide cross-examination opportunities. Payments were made through banking channels only, with no admissions of cash transactions by parties involved. en-us Fri, 20 Dec 2024 00:00:00 +0530 Thu, 27 Mar 2025 18:51:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768110 ITAT NEW DELHI ruled in favor of the assessee, deleting additions made under sections 69B and 69C. The tribunal found that printouts allegedly showing cash payments for machinery purchase were insufficient evidence without corroborative material, particularly since the supplier denied receiving cash and machinery valuation supported the assessee's position. Similarly, additions for alleged cash payments to suppliers were deleted as AO failed to conduct proper enquiry, record statements, or provide cross-examination opportunities. Payments were made through banking channels only, with no admissions of cash transactions by parties involved. Case-Laws Income Tax Fri, 20 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768110